Boeing to deliver fewer 787s, 747s in 2011

Boeing says it won’t deliver as many of its new 787s this year as it previously expected, even as it delivered a third-quarter profit that was well above expectations.

On Wednesday, Boeing said it will deliver 15 to 20 of the new 787s and 747-8s. Previously, it had said it would deliver 25 to 30 of the planes.

The jet maker also said it will spread out the cost of the 787 program over the first 1,100 aircraft to be delivered. Boeing has orders for about 800 of its new Dreamliner aircraft.

The company divvied the cost of previous new aircraft programs over as few as 400 planes but struggled with developing the 787, which uses new materials and technology. Boeing also relied heavily on global partners for the 787 and had to buy out a few of those partners.

Boeing delivered the first 787 to All Nippon Airways of Japan last month. The Dreamliner carried its first passengers on Wednesday on a special charter flight.

The jet maker also delivered its first 747-8 freighter to Cargolux earlier this month.

Boeing earned $1.1 billion for the quarter ended Sept. 30. That’s up 31 per cent from the same period last year. The profit of $1.46 per share was far above the $1.10 per share expected by analysts surveyed by FactSet. Revenue rose 4 per cent to $17.7 billion.

Boeing raised its full-year guidance to $4.30 to $4.40 per share.

“Strong operational performance drove double-digit margins in both of our major businesses and produced an outstanding quarter,” Jim McNerney, Boeing’s chief executive, said in a statement.

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